better onboarding comms effectiveness over the year
growth in registrations over Fintech benchmarks
increase in overall transactions
conversion for retention
JULO is a financial technology company in Indonesia trying to empower millions of Indonesians with access to easy digital credit.
JULO hit operating profit breakeven in December 2023. It also recorded a 73% increase in revenue for the 2023 financial year and an annual recurring revenue of over US$120 million.
JULO kept high standards for its growth goals and observed an opportunity in being the herald for financial credit education in Indonesia.
With credit card penetration below 10% in the country, JULO aimed to strengthen itself as the go-to platform for financial credit literacy. Upon educating its potential customers, they also aimed to offer these customers virtual credit cards for seamless cash and non-cash transactions.
MoEngage is like INDONESIAN SAMBAL!
1. Sambal adds spice and flavor to dishes, while MoEngage enhances customer engagement in marketing strategies.
2. Sambal can be used in a variety of dishes, while MoEngage supports multiple channels of communication.
3. There are various versions of Sambal, which people can choose according to their likes - which is like MoEngage’s personalization.
Mikhal A.
Head of Marketing
When someone says 'MoEngage', I think: 1. Ease of use 2. Trust & security 3. Seamless customer journeys.
By executing personalized communications and also automating customer journeys using MoEngage, we were able to execute our end-to-end campaign processes in a timely manner - from a few weeks, to only a couple of days.
JULO, in rapidly trying to improve it's experience, wanted to identify more nuanced pain points and interests of its customers. The team realized that they needed to focus on efficiency and effectiveness while building engaging customer journeys.
So JULO decided that rather than building an engagement platform from scratch, they wanted to rely on marketing automation experts who had a proven track record with leading financial brands in Indonesia and the rest of the world.
After evaluating multiple vendors and platforms, JULO decided that upgrading to MoEngage as their engagement partner would be the best step forward to build and maintain a seamless and smooth customer-centric journey. Using MoEngage Flows, JULO was able to identify pain points in the customer onboarding process and make real-time optimizations.
As a result, JULO saw a 5-10% increase in Daily Active Users, proving the impact of data-driven decision-making. MoEngage's ease of use, real-time insights, and ability to manage multiple communication channels have enabled JULO to continuously optimize customer interactions, making them a trusted partner in JULO's growth.
One of JULO’s key challenges was retaining customers and preventing drop-offs during the loan application. With MoEngage's advanced audience segmentation and automated flows, JULO could now engage and convert customers who had dropped off.
The Result? JULO observed conversion rates of 13% on their retention campaigns.
One key metric for JULO’s success is the Time to Value (TTV)—how long it takes them to recognize the value of MoEngage's features. Partnering with the enterprise-ready customer engagement platform for marketing automation and real-time insights, JULO has managed to significantly optimize efficiency.
Campaigns that used to take several weeks to set up and execute could now be done in just a few days! This allowed JULO to deliver credit access to customers faster than ever before. Morever, this also affected other impact metrics positively as speed and agility is crucial in the Financial Services industry.
This swift turnaround time is in a competitive markets like Indonesia, where quick access to financial services can make all the difference for customers.
Customer Insights & Analytics
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Using MoEngage was able to unify their data silos and automate their processes and observed:
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